The hashgraph algorithm — a consensus mechanism based on a virtual voting algorithm combined with the gossip protocol — will help Sagewise achieve its goal by providing a framework for quick, fair, efficient and secure consensus.

Providing peace of mind to all parties to a smart contract, technology company Sagewise announced they will utilize the Hedera Hashgraph platform to build its ecosystem on top of.

A blockchain-alternative, Hedera Hashgraph will serve as the basis of Sagewise’s testnet, as the company realizes its mission to deliver transactional confidence and create a new legal paradigm.

Co-founded by Amy Wan Esq., a leader in legal tech, and Dan Rice, a veteran software engineer and blockchain expert, Sagewise offers a proprietary SDK to mitigate variables such as the quality of smart contract coding and evolving situations. Sagewise does this by building in a layer of smart contract monitoring, notification, freezing, and dispute resolution to ensure that execution of a smart contract reflects the user’s intent

“We believe justice should be decentralized, so our objective is to provide smart contract users a toolkit to settle errors and disputes, lest they end up with unintended outcomes. Smart contract losses exceeded half a billion U.S. dollars in value in 2017, so we feel it is integral to address the void in the industry. In order to reach our objectives, we knew scaling was of utmost importance, which is why we decided to work with Hedera Hashgraph. Its technology does not have the technical limitations of the existing blockchain, and provides distributed consensus.”

Amy Wan, Co-founder and CEO of Sagewise

“From supply chain to financial services, smart contracts can be used in almost every industry; however, despite widespread adoption, the possibility for dispute is ever-present. Sagewise’s mission to help smart contract users quickly resolve disputes and reach consensus is greatly needed in the market, and we are pleased the team is choosing to build on top of hashgraph.”

Jordan Fried, Global Vice President of Business Development for Hedera Hashgraph